Obama asks Congress to repeal oil industry tax breaks

U.S. President Barack Obama today urged Congress of his country to put an end to subsidies by billions of dollars that are awarded each year to oil companies.

"Today, members of Congress must make a simple choice," Obama said. "You can be part of the big oil companies may be set aside or the American people."

Last year, the three largest U.S. oil companies received more than 80,000 million dollars in profits. Exxon earned nearly U.S. $ 4,700 million per hour.

Obama said at the White House whenever the gas increases one penny, these companies typically get a $ 200 million in quarterly earnings.